NOTE: There will be an opportunity to receive answers from the instructor in real-time by submitting your questions in the Q&A forum on the webinar page!

Morning Session: The morning session will feature a detailed New York State tax update by Mark Klein and Joe Endres including the following topics: the 2025-2026 NYS Budget and Other Hot topics, New NYS Transfer on Death (TOD) Deeds effective 7/19/2024, Residency and nonresidence allocation issues, Post Pandemic NYS issues, NYS Audit initiatives, Residency audits, Sales and use tax update, NYS taxation of digital products and Software as a Service (SaaS).

Hear what attendees have to say about Mark Klein & Joe Endres' seminars:

"Mark Klein is always a pleasure to listen to--his mastery of the materials is unparalleled and his real world "war stories" highlight abstruse concepts in action. This entire seminar is a great resource for state and local tax policy." - Stuart L.

"Some the best instructors I've heard in over 35 years of CPE." - Peter Jason R.

"Extremely well presented and informative." - Jane J.

"I admired the knowledge, thoroughness, and experience of all the instructors." - Stephen Z.

Afternoon Session: You will probably be surprised that despite hearing again and again about a few key provisions, there is so much more in this initial version of the new tax law! Your clients are reading excerpts in the WSJ, Forbes, USA Today, etc. and they will want to know how these new proposals will impact their current tax situation. Also, what mid-year tax planning steps should we be taking in anticipation of these changes? A must attend seminar!

Do not wait until the fall to look at this new massive tax law.

Hear what attendees have to say about Art Werner's seminars:

"Excellent Presentation, full of details and made it interesting, well done!" - George M.

"Art Werner is able to correspond course material to real-world examples, and that makes his courses really shine." - Dave K.

"Extremely well presented and informative." - Jane J.

"Art Werner is another great instructor at ACE, whose war stories and ability to relate abstruse concepts to his audience are par excellence." - Stuart E. L.

Topics & Learning Objectives Include:

Mark Klein & Joe Endres

• Effect of OBBBA on State & Local Taxes
• 2025-2026 NYS Budget and Other Hot topics
• New NYS Transfer on Death (TOD) Deeds Effective 7/19/2024
• Residency and Nonresidence Allocation Issues
• Post Pandemic NYS Issues
• NYS Audit Initiatives
• Residency Audits
• Sales and Use Tax Update
• NYS Taxation of Digital Products and Software as a Service (SaaS)

PM Session - 2025 OBBBA

• NEW TAX LAW PROVISONS OF PRESIDENT TRUMP'S "BIG BEAUTIFUL" BILL
• New Roth IRA conversion option for excess Sec. 529 plan balances
• Update on status of “beneficial ownership” reporting rules
• Finally, RMDs for inherited retirement accounts with 10-year payout rule
• Issues regarding S corp owner basis requirement statement on Schedule E
• Form 7203 - Special relief for disaster area taxpayers; Bipartisan Disaster Relief Bill
• Increased “luxury car” caps for 2025; Gain recognition on sale or trade-ins of used business assets
• Priority of Sec. 179 election over bonus depreciation
• Reinstatement of 100% bonus depreciation?
• Cost seg studies and “catching up” on missed depreciation deductions
• Tax planning with Sec. 754 step-up elections
• Review of retirement planning strategies; RMDs, QCDs, donor-advised funds
• Comprehensive list of exceptions for 10% early withdrawal penalty
• Update on 3.8% Medicare surtax on net investment income
• Treatment of interest expense incurred to acquire flowthrough entity interest
• Interest on debt-financed distributions from LLCs and S corps
• Carryover of Sec. 199A EBLs and Sec. 461(l) NOLs; Impact of death, divorce or remarriage on tax attributes
• Update on Sec. 461(l) “excess loss deduction” limits for 2025
• Impact of SALT cap on state passthrough entity tax (PTE) elections
• Will Congress “double” the $10,000 limit for joint returns?
• Interaction of SALT cap and “tax benefit” rule for state/local income tax refunds
• Coverage of the latest IRS guidance and issues with Sec. 199A deduction
• Latest update on extension of Tax Cut and Jobs Act (TCJA) provisions
  
• Tax Planning for 2025
• Ask the instructor any Federal tax question you will get an expert answer!

Mark Klein has more than 30 years of experience with New York State and NYC taxation -- and is best known for his public speaking on tax topics.

Our instructors are some of the most knowledgeable tax lecturers in the nation. They have the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.